Goodyear Tire & Rubber Co. extended the timeline for its Goodyear Forward restructuring plan. The company expects the overhaul to require more time and capital than originally anticipated.
Persistent headwinds including tariffs and rising raw material costs caused the delay. Goodyear also cited increased competition from lower-priced imports as a factor in the revision.
The company projects a cash burn between $200 million and $300 million for fiscal year 2026. Plant closure costs will drive a significant portion of this projected spending.